There are well documented evidences that the relative impact of human resources on child health is stronger than the impact of material resources. What is less-known is how does the relative impact of education and material resources, on child health outcomes, changes in the presence of climate related risks. By combining individual level data from demographic and household surveys and a province level whether data from Climate research unit, we have investigated and compared the relative impact of educational and household wealth, on child health, in rural Ethiopia. The results of multilevel logistic regression estimates confirms that education is not only a stronger predictor of child survival but its effect increases substantially when the household faced drought-induced income shocks. On the other hand, the protective effect of household wealth changes little during the drought seasons.